Kingfisher axes over 400 jobs in France

Kingfisher PLC, Europe’s largest home improvement retailer, has announced it plans to cut over 400 jobs at its Castorama and Brico Depot businesses in France as it seeks to reduce costs amid weak sales. The announcement was made to representatives of their French workforce earlier this week, where it employs over 20,000 people. The statement said "This project would lead to 409 job cuts in France, the creation of 102 jobs and the transfer of 164 positions."

The job cuts, come just weeks after the business confirmed that 200 roles would be made redundant at B&Q, 130 of those at their Store Store Office at Eastleigh.

Read - B&Q to axe 200 roles, including 130 at SSO.

Kingfisher is already into year two of 'Kingfisher One', the global plan to increase profitability by £500m a year from 2021. The cost to deliver the plan is expected to be int he region of £800m over five years and includes unifying ranges across their retail chains as well as significant investment in IT systems and e-commerce.

On 21st March, Kingfisher will announce their final results for their financial year ending 31st January 2018.

Source: Insight DIY Team

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